Update re Magic Media Works Limited

Asimilar notes today's press release from Roxi, the flagship product of Magic Media Works Limited ("MMW"), an investee company within the Company's portfolio, announcing that pop legend Kylie Minogue is joining ROXi, as a ROXi Curator.  Kylie's personal playlists will be shared for the first time, exclusively on the ROXi Made-for-TV music entertainment experience.

Kylie will also be the star of ROXi's new TV ad campaign.

Kylie becomes a shareholder in MMW, alongside existing ROXi curators Robbie Williams, Sheryl Crow, Alesha Dixon.

Asimilar holds 1,646,682 ordinary shares in MMW, representing 7.61% percent of the issued share capital of MMW plus a £500,000 Convertible Loan Note. The Company has options over a further 95,000 ordinary shares in MMW. 

John Taylor, Chairman of Asimilar, said "Roxi continues to make excellent progress this year. Following previous announcement of the Sky Q deal, the company has now signed up Kylie Minogue to help achieve its vision of the only affordable in-home shared music entertainment experience that brings friends and family together."

Rob Lewis, Founder and CEO of Magic Media Works said "We're delighted to welcome Kylie to ROXi. She has sold more than 80 million albums worldwide with seven No.1 hits in the UK alone. Having Kylie join the ROXi business will help us to deliver on our vision to get everyone listening together, singing together, dancing together, playing together, with ROXi.

"Kylie's appointment follows the ROXi's recent rollout of its' unique music entertainment experience to millions of UK homes through Sky Q."

About ROXi

ROXi is 100% designed for the home, with its Unlimited Music catalogue of over 55 million songs from all the major and leading independent music rights holders, Music Games, Karaoke, Worldwide Radio and more, ROXi is the only affordable in-home shared music entertainment experience that brings friends and family together.